STU Student Loan Corp. (The)

The Law Offices of Gerald Lovoi is investigating claims of breach of fiduciary duty by certain members of the board of directors of Student Loan Corporation (NYSE: STU) (“Student Loan” or the “Company”) in relation to the sale of the Company to Discover Financial Services. (“Discover”) and SLM Corporation (“Sallie Mae”).

On September 17, 2010, Discover announced that it has reached an agreement with Student Loan, an indirect subsidiary of Citigroup, Inc., to acquire the Company in a deal which values Student Loan at about $600 million, or $30 per share. The amount represents a 40 percent premium to the share price on September 16, 2010.

Under the terms of the deal, Discover will acquire $4.2 billion in private student loans and run the Company’s ongoing business, and Sallie Mae will buy the residual interest in $28 billion of securitized government guaranteed loans. Some $9 billion in assets not part of the proposed transaction will be kept by Citigroup, Inc.

It is alleged that certain members of the board of directors breached their fiduciary duty in connection with the attempt to sell Student Loan at an inadequate price through an unfair process, and that certain members of the board of directors have failed to conduct a full and fair process at the expense of the Company’s shareholders.

If you are a current investor in Student Loan Corporation who purchased STU shares before September 17, 2010, and you wish to discuss this investigation or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Gerald Lovoi at (918) 622-0031, or via email at glovoi@aol.com.

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